The annual inflation rate went up in April to 1.9 percent in the euro area and 2 percent in the European Union of 28, from 1.5 percent and 1.6 percent, respectively, in March, while Romania, Ireland and Slovakia recorded the lowest annual inflation rates in the EU, according to the Eurostat (European Statistics Office) data released on Wednesday.

According to these estimates, inflation in the euro area nears the target of the European Central Bank, which wants to maintain the price increase at around 2 percent, a level regarded as beneficial for the economic activity.

The highest annual inflation rates in the EU were registered last month in Estonia (3.6pct), Lithuania (3.5pct) and Latvia (3.3pct), and the lowest were in Romania (0.6pct), Ireland (0.7pct) and Slovakia (0.8pct). Compared to March 2017 annual inflation declined in six states, increased in 19 countries (Romania included) and remained stable in three states.

In the case of the euro area, in April the most significant impact on the annual increase in prices were the transport fuels (0.39 percentage points), heating fuels (0.11) and holiday packages (0.12). On the other side, the most significant impact on inflation came from the telecommunications sector (minus 0.11 percentage points) and clothing articles (minus 0.8).